Initial Claims Come At 473K, On Expectations Of 490K, Previous Revised To 504K From 500K

Futures spike immediately as the economy is now losing just around 73k jobs per month instead of the expected 100k, truly a miraculous result. Continuing claims come at 4,456k on expectations of 4,496k, as yet again more unemployed move to the extended ranks: extended rise by 102k and EUC by just under 200k. The US transition to a welfare state continues 300k jobless at a time, and 2.1 million (in EUC + Extended) since July 9.